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Flying Blind on the Public’s Dime

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A prerequisite for good decision making is access to timely, reliable
and accurate data, including financial data. But such financial
information is the exception rather than the rule for many governments
around the world, according to a Deloitte study.

The report, Mastering Finance in Government found:

69% of the public officials surveyed cited a lack of
up-to-date information as either a moderate or significant barrier to
improving the organization’s performance.

63% of respondents said program managers do not
understand the total cost of their services.

More than half of those surveyed said their organizations
do not thoroughly understand the relationship between the investments
they make in programs and the outcomes those programs produce.

Only 27% of respondents described their organization’s
risk management capabilities as being beyond a basic level.